GBP/USD Update – 27/09/2017 (11:40am) – by Arjun Lakhanpal

GBP/USD Update – 27/09/2017 (11:40am): We highlighted yesterday that “another push lower towards 1.3420 seems likely before a more sustained recovery can be expected”. In line with expectation, GBP dipped to a low of 1.3410 before rebounding quickly. The recovery appears to have scope to extend higher but at this stage, a clear break above yesterday’s peak near 1.3515 seems unlikely (1.3485 is already quite a strong resistance). Support is at 1.3430 followed by 1.3400…